Linscomb Wealth Inc. Grows Stock Position in Johnson & Johnson (NYSE:JNJ)

Linscomb Wealth Inc. boosted its stake in shares of Johnson & Johnson (NYSE:JNJ) by 1.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 69,675 shares of the company’s stock after purchasing an additional 720 shares during the quarter. Linscomb Wealth Inc.’s holdings in Johnson & Johnson were worth $10,184,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Innealta Capital LLC acquired a new stake in Johnson & Johnson in the second quarter valued at $27,000. Christopher J. Hasenberg Inc acquired a new position in shares of Johnson & Johnson during the 1st quarter worth about $31,000. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Johnson & Johnson during the 4th quarter worth about $44,000. MFA Wealth Advisors LLC purchased a new stake in Johnson & Johnson during the second quarter worth approximately $43,000. Finally, Grayhawk Investment Strategies Inc. boosted its holdings in Johnson & Johnson by 528.6% in the fourth quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock valued at $48,000 after purchasing an additional 259 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Down 0.1 %

Shares of Johnson & Johnson stock opened at $164.64 on Friday. The company has a market cap of $396.24 billion, a P/E ratio of 10.26, a PEG ratio of 2.71 and a beta of 0.53. The firm has a fifty day moving average of $159.17 and a two-hundred day moving average of $154.00. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 1.07. Johnson & Johnson has a one year low of $143.13 and a one year high of $168.85.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, beating analysts’ consensus estimates of $2.71 by $0.11. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The firm had revenue of $22.45 billion during the quarter, compared to the consensus estimate of $22.33 billion. During the same quarter last year, the firm earned $2.80 earnings per share. The firm’s revenue was up 4.3% compared to the same quarter last year. On average, analysts forecast that Johnson & Johnson will post 10.02 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th were given a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 3.01%. The ex-dividend date was Tuesday, August 27th. Johnson & Johnson’s payout ratio is 30.92%.

Insider Buying and Selling at Johnson & Johnson

In other news, VP Robert J. Decker sold 5,635 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the transaction, the vice president now directly owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.16% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have weighed in on JNJ shares. Morgan Stanley raised their price objective on shares of Johnson & Johnson from $167.00 to $169.00 and gave the stock an “equal weight” rating in a report on Thursday, July 18th. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research note on Monday. The Goldman Sachs Group cut their target price on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. StockNews.com cut Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 6th. Finally, Daiwa Capital Markets cut Johnson & Johnson from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $160.00 to $150.00 in a research note on Tuesday, July 23rd. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $173.21.

About Johnson & Johnson

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.